FidelFidel,When I saw your question I got interested as most Canadian investors are rather running away (or pausing) from investing in RE in Canada.But to help in your journey, here's what I can share mostly from either my personal experience or discussion with relevant professionals. 

This can create deprecation needed to offset these gains, and we don't need to qualify for real estate professional to take advantage of it in this case here. 

Has info from a variety of professionals with no sales pitch.

Readers should seek professional advice. 

Several questions that will allow financial professionals/planners to help you make an informed decision include: what are you paying in rent?

Readers should seek professional advice.

These are professionals with additional training and a stricter code of ethics.

And it has been gaining recognition as a vibrant, desirable place to live, especially for younger professionals and first-time buyers. 

I am not an accountant or tax professional so I would recommend talking to your account about what that means and maybe some strategies on how to reduce your tax liability

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.